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Smaller stocks outperformed Nifty by a wide margin as the index is up only about 8.5% since last Diwali while Nifty Smallcap50 is up 38%, Nifty Microcap 250 has advanced 51% and Nifty SME Emerge has zoomed 69%.
“Honasa Consumer or Mamaearth is good only for listing gains, not much for the near term. I feel that if Honasa gets a decent listing, one should look at exiting at this level. Cello, on the other hand, could be a good structural story for the next two to three years.”
Macrotech Developers, Brigade Enterprises, Phoenix Mills and Oberoi Realty shares reached new highs in today's trading session. The strong performance of real estate stocks is attributed to increased demand for houses and FII inflow into the sector.
"Our focus as a business is about delivering steady and predictable growth. The first half of this fiscal year shows that we are doing that with consistency. We have achieved 48 per cent of our sales guidance for FY24 and 80 per cent of our business development guidance and our embedded EBIDTA margin remains strong at 30 per cent," Lodha said.
About 57 smallcap stocks delivered double-digit weekly returns with four of them offering over 25% returns. Jaiprakash Associates was the top gainer in the pack with nearly 40% return, followed by SEPC Ltd (35.1%), Greenlam Industries (29.6%), and Apollo Micro Systems (25%).